Thursday, January 24, 2013

Fibonacci Price Retracements

Fibonacci time and price are a set of tools designed to identify in advance price and time zone of support and resistance.Price retracement is the first one now available by selecting the leftmost button on the Fib button set

Right mouse click opens a setting dialog for all Fibonacci price retracement features

2 left mouse click are required to plot price retracements: first one sets the primary (100%) line second one sets secondary (0%) line retracement.Here an example on 10 minute time frame stock based on close prices

Fib tools will be used to find in advance price and time clusters zone: here is an example of how the price cluster algorithm will behave once it will be ready